Income/commission taxing help!!!

[Buehler445]

Originally Posted by Dante84

Thanks.

I'm a legit employee, non-contracted, thank God.

It/they would close in March at the latest. And yeah, it would be a one-time thing. What exactly would deferring the income do?

The great news is, that if this works, I will be able to roll out the same proposal in 3 other markets as well, with a good chance of closing since the platform is already in place. So I'd have to plan ahead for that as well, tax wise.

baby steps first though.... deep breaths...

Well, it won't matter if you close in March. But if you closed in August and took it over 6 months, you'd take it over sep, oct, nov, dec, jan, feb. Then 20% would be deferred to 2012. That could potentially put you in a lower tax bracket.
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